February 5, 2020
But the market is rising back faster than it fell. The solid economy and low interest rates are continuing to drive stocks higher, for now.
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Early Tuesday morning Biopharmaceutical giant AbbVie (ABBV) announced plans to acquire Ireland-based Allergan plc (AGN) for $63 billion. The market hates the deal and AbbVie stock plummeted over 16% on the day. Let’s take a look at the deal and see what’s going on.